Market News / Story
SpaceX Just Put Telecom Stocks on Notice
GuruFocus ·
GuruFocus reports: Space Exploration Technologies Corp. (SPCX, Financials), the space and communications business behind Starlink, sent shockwaves across the telecom sector after a $8 billion spectrum transaction prompted new doubts about its aspirations in wireless communications. The article said SpaceX had agreed to buy a countrywide portfolio of low-band spectrum from Grain Management. The news sparked a selloff of all major telecom stocks, including AT&T, Verizon and T-Mobile US. The…